: State Bank of India, the country’s largest lender, plans to sell a 6 per cent or 3.20 crore share in its subsidiary SBI Fund Management through an Initial Public Offering (IPO).

Amundi India Holding, the other promoter of SBIFML, will divest 3.70 per cent, or 1.88 crore, of its equity shares.

Both the promoters of SBIFML have jointly initiated the IPO, which will be completed this year, said SBI.

The IPO framework agreement is expected to be executed on Monday.

This will be SBI’s second attempt to list its MF arm on the stock exchange. In December 2021, it announced plans for an IPO of its MF subsidiary to raise about ₹8,500 crore, but the plans were shelved after markets turned volatile.

SBI Mutual Fund, the largest asset management company in the country, with a market share of 15

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